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AT&T INC. Director's Dealing 2011

May 3, 2011

29786_dirs_2011-05-03_3b2e634a-f6aa-4571-ba8e-852b4e797ca0.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2011-04-29

Reporting Person: MILLER FORREST E (Grp.Pres.-Corp. Strat. & Dev.)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-04-29 Common Stock A 949.3209 $31.12 Acquired 54507.1538 Indirect

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 123190 Direct
Common Stock 1515.0867 Indirect
Common Stock 170419 Indirect
Common Stock 85 Indirect

Footnotes

F1: Represents shares purchased by the reporting person with automatic deductions from payroll and, to a limited extent, company matching contributions, in the form of deferred stock units settled only in stock on a 1-for-1 basis as provided for in the plan.